Dish Network Corp. (DISH) Bond Prices Rise 1%
An issue of Dish Network Corp. (NASDAQ:DISH) debt rose 1% as a percentage of its face value during trading on Tuesday. The high-yield issue of debt has a 5.875% coupon and is set to mature on July 15, 2022. The bonds in the issue are now trading at $103.50 and were trading at $102.50 last week. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.
DISH has been the subject of a number of research analyst reports. Macquarie upgraded Dish Network Corp. from a “neutral” rating to an “outperform” rating and set a $62.00 target price for the company in a report on Tuesday, August 9th. Jefferies Group reiterated a “buy” rating and issued a $80.00 target price on shares of Dish Network Corp. in a report on Friday, August 26th. Zacks Investment Research upgraded Dish Network Corp. from a “hold” rating to a “strong-buy” rating and set a $60.00 target price for the company in a report on Wednesday, September 21st. Pivotal Research lifted their target price on Dish Network Corp. from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, November 10th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $85.00 target price on shares of Dish Network Corp. in a report on Thursday, November 10th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $67.96.
Dish Network Corp. (NASDAQ:DISH) opened at 57.45 on Thursday. Dish Network Corp. has a 12 month low of $38.85 and a 12 month high of $63.80. The stock has a market cap of $26.72 billion, a PE ratio of 27.37 and a beta of 1.05. The stock’s 50 day moving average price is $56.51 and its 200-day moving average price is $52.87.
Dish Network Corp. (NASDAQ:DISH) last released its earnings results on Wednesday, November 9th. The company reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by $0.04. Dish Network Corp. had a net margin of 6.48% and a return on equity of 40.84%. The firm earned $3.75 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the previous year, the business earned $0.42 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts anticipate that Dish Network Corp. will post $3.01 EPS for the current fiscal year.
In related news, insider Carl E. Vogel sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $53.54, for a total transaction of $1,606,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 49.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank raised its position in Dish Network Corp. by 57.4% in the third quarter. Toronto Dominion Bank now owns 1,953 shares of the company’s stock worth $107,000 after buying an additional 712 shares during the period. Acrospire Investment Management LLC raised its position in Dish Network Corp. by 25.0% in the third quarter. Acrospire Investment Management LLC now owns 2,000 shares of the company’s stock worth $110,000 after buying an additional 400 shares during the period. Mycio Wealth Partners LLC bought a new position in Dish Network Corp. during the second quarter worth $126,000. Bessemer Group Inc. bought a new position in Dish Network Corp. during the second quarter worth $128,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Dish Network Corp. by 306.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,441 shares of the company’s stock worth $128,000 after buying an additional 1,841 shares during the period. 48.27% of the stock is owned by institutional investors.
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Dish Network Corp. Company Profile
DISH Network Corporation is a holding company. The Company operates through two segments: DISH and Wireless. It offers Pay-TV services under the DISH brand and the Sling brand (collectively Pay-TV services). The DISH branded Pay-TV service consists of Federal Communications Commission (FCC) licenses authorizing it to use direct broadcast satellite (DBS) and Fixed Satellite Service (FSS) spectrum, its owned and leased satellites, receiver systems, third-party broadcast operations, customer service facilities, a leased fiber optic network, in-home service and call center operations, and certain other assets utilized in its operations.
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